Mir (payment system)
Mir headquarters in Moscow | |
| Company type | PJSC |
|---|---|
| Industry | Financial services, Payment card industry |
| Founded | 2015 |
| Headquarters | 11A Bolshaya Tatarskaya str., , |
Area served | Russia |
| Products | Debit cards, credit cards, payment systems |
| Brands |
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| Parent | PJSC NSPK (100% owned by the Central Bank of Russia) |
| Website | vamprivet |
Mir (Russian: Мир, IPA: [ˈmʲir]; lit. 'the world' or 'peace') is a Russian card payment system for electronic fund transfers established by the Central Bank of Russia under a law adopted on 1 May 2017. Russian National Card Payment System, a wholly-owned subsidiary of the Central Bank of Russia. Mir does not itself issue cards, extend credit or set rates and fees for consumers; rather, Mir provides financial institutions with Mir-branded payment products that they use to offer credit, debit, or other programs to their customers.
The development and implementation of Mir was spurred by the imposition of international sanctions against Russia in 2014 to circumnavigate the reliance on the likes of Visa and Mastercard, which were blocked in Russia at the time. Mir created its own digital wallet for contactless payments.